THA Unveils $4 Billion Budget Targeting Mega Projects and Infrastructure
The Tobago House of Assembly is seeking over $4 billion for fiscal 2026/2027.
THA Secretary of Finance, Trade and the Economy, Petal-Ann Roberts, presented the package against the theme, “Results-Based Governance: A Pathway to Prosperity.”
“Of which the estimates of recurrent expenditure amount to $3.03 billion and the development programme expenditure total $1.09 billion. CEPEP estimates amount to $43.35 billion. »
That figure amounts to 6.6% of the national budget that is expected to be presented by the Minister of Finance in October.
Based on a plan toward developing economic resilience, Secretary Roberts announced initiatives such as the establishment of an Office of Mega Projects.
“Which will utilise integrated land use planning and rigorous metrics such as cost-benefit analysis and net present value to prioritise a transparent, merit-based project pipeline while ensuring the agility to adapt through cyclical annual reviews.”
The largest investment ask is $431 million for public infrastructure.
“The accelerated road improvement and infrastructure upgrade programme. Two, the Friendship Estate development project. Three, the Scarborough redevelopment project.”
In the area of agriculture, the Finance Secretary said the THA hopes to make a $140.7 million investment through the mega farm project, utilising CEPEP workers to grow produce such as dasheen, cassava, yams, lettuce and sweet peppers.
“Our target is to increase the production of these items by 10% in fiscal 2027 and scale to 50% by 2030. Similarly, our aim is to increase the quantity of commercially harvested fish by 10% in fiscal 2027.”
The THA Finance Secretary said there is also a push to develop climate resilience.
“We are rolling out a phased installation of island-wide electric vehicle charging ports matched by a transition of the THA’s vehicle fleet to hybrid and electric vehicles.”
Debate on the budget will continue on Thursday.
